Celestica Inc. (NYSE:CLS) Receives $58.38 Average Target Price from Brokerages

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $58.38.

A number of equities research analysts have recently issued reports on CLS shares. Stifel Nicolaus upped their price target on Celestica from $51.00 to $58.00 and gave the company a “hold” rating in a research report on Friday, July 26th. BMO Capital Markets raised their target price on Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. CIBC boosted their price target on shares of Celestica from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Royal Bank of Canada raised their price objective on shares of Celestica from $53.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Finally, Canaccord Genuity Group boosted their target price on shares of Celestica from $53.00 to $70.00 and gave the company a “buy” rating in a report on Friday, July 26th.

Celestica Stock Down 0.7 %

NYSE CLS opened at $53.67 on Thursday. The business has a fifty day moving average price of $54.80 and a 200 day moving average price of $49.34. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.86 and a current ratio of 1.47. The company has a market cap of $6.38 billion, a P/E ratio of 20.02 and a beta of 2.31. Celestica has a one year low of $20.76 and a one year high of $63.49.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.10. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.25 billion. Celestica had a net margin of 4.16% and a return on equity of 19.96%. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period last year, the firm posted $0.55 earnings per share. Research analysts anticipate that Celestica will post 3.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Celestica

A number of hedge funds have recently made changes to their positions in CLS. Wolff Wiese Magana LLC lifted its stake in Celestica by 32.1% during the second quarter. Wolff Wiese Magana LLC now owns 700 shares of the technology company’s stock worth $40,000 after purchasing an additional 170 shares in the last quarter. Truist Financial Corp lifted its stake in Celestica by 2.0% during the 2nd quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock worth $631,000 after acquiring an additional 214 shares in the last quarter. Creative Planning boosted its holdings in Celestica by 4.7% during the 2nd quarter. Creative Planning now owns 7,526 shares of the technology company’s stock valued at $431,000 after acquiring an additional 336 shares during the period. Bay Rivers Group boosted its holdings in Celestica by 1.9% during the 2nd quarter. Bay Rivers Group now owns 19,517 shares of the technology company’s stock valued at $1,119,000 after acquiring an additional 370 shares during the period. Finally, Naples Money Management LLC grew its position in Celestica by 90.0% in the 2nd quarter. Naples Money Management LLC now owns 950 shares of the technology company’s stock valued at $55,000 after acquiring an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Company Profile

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.